Week 10: Signing Contracts

Have you ever signed a contract without reading it? Me, an attorney: I do it all the time. Ever clicked through terms and conditions on a website without a glance? Ever accepted new terms from Apple or Google? Ever bought a warranty for a computer or appliance without knowing all the terms and conditions?

Said in another way, have you ever had an attorney review a contract before signing it? Me, an attorney: No.

When you sign a contract, your ignorance to the fine print is very rarely a defense to the enforcement of its terms.

Discussion Question: as a current or future business owner, under what circumstances would you consider having an attorney review a contract before you signed it?

Consider:

• Length and complexity
• Stakes and value
• Contract type: employment, non-disclosure, confidentiality, personal service agreements
• Risk and liability posed by the terms
• International contracts
• Government contracts
• Alternative Dispute Resolution and Arbitration clauses
• Intellectual property, name-image-likeness